GPSCCU Annual Report 2013
Bro. Lennox Andrews, General Manager, Communal Co-operative Credit Union expressed warm and fraternal
greetings from his Board and Membership and pledged their support in working together to build a stronger
movement. He shared the view that members’ confidence in the movement had grown and the public image of
the Credit Union had been greatly enhanced as evidenced through its increased membership.
Bro. Adrian Banfield, Gateway Co-operative Credit Union thanked the membership for the invitation to share with
them on this occasion. As the newest Credit Union in Grenada, he felt that this was a learning opportunity for his
Credit Union. He invited the membership to consider the collaboration in forming a credit bureau to take care
of the problems which arise from persons who borrow constantly from all credit unions without honouring their
debts.
Bro. Shawn Phillip, Birchgrove Co-operative Credit Union thanked the membership for the invitation to share
extend congratulatory remarks. He congratulated the GPSCCU on the hosting of the 66th Annual General Meeting
and the achievements and successes during the year. He encouraged the membership to continue to build their
Credit Union as this was the one sure way for the collective growth of the movement.
AGM13/05 Official Remarks
GARFIN
Bro. Angus Smith, made remarks on behalf of the regulator, GARFIN. He commended the GPSCCU on its
performance during the last year and the improvement of all the key ratios. He explained to the membership the
importance of the Annual General Meeting and emphasized its democratic structure and the need for members
to participate in the meetings. He implored that efforts should be made to encourage more persons to attend
the AGM and be a part of the process that makes the Credit Union different.
Bro. Smith reiterated that the Credit Union must be prepared to evolve in an effort to meet their members’ needs,
without forgetting the core Credit Union principles and values which the theme chosen clearly displayed. The
use of technology and other modern media to facilitate the needs of members is a clear indication of change. He
emphasized the role the GPSCCU has played in the development of the movement and commended the Credit
Union on the merger of Richmond Hill and the St. Patrick’s Credit Union.
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He highlighted that GARFIN had embarked on various new initiatives in an effort to continue to improve
the quality of supervision; developing a risk based system to enable regulators to rate institutions in various
areas; new Credit Union regulations and reporting forms; development of a new model Credit Union byelaws to take into consideration the new Co-Operative Societies Act and the revision of the current Act.
Grenada Co-operative League
Bro. Leroy Cadet, President, Grenada Co-operative League and Vice President, Grenville Co-operative Credit
Union brought greetings and commendations for the significant performance of the GPSCCU.